SEC, the largest advocacy, public relations and integrated communications agency in the Italian Market, has been admitted to the AIM Market. SEC, together with WHIreland as a joint broker successfully raised £3.4 million (before expenses) during a placement of shares, giving a market cap on admission of approximately £18.5million.
The net proceeds of the Placing of new ordinary shares will be used by the Group to execute and integrate acquisitions in new territories, with specific discussions being held with identified businesses in the UK. The Board of SEC believe that Admission will provide the business with an increased reputation, provide shares as currency for the acquisition of suitable businesses and allow greater access to capital funding in the future.
“Today marks a key milestone for SEC and our growth plans. Being quoted in London will give us the opportunity to accelerate our acquisition strategy and leverage our position as one of the leading European public relations and advocacy communications agencies.”
“We are very pleased to have supported Fiorenzo and SEC on their admission to AIM. I am confident that with the support of new and existing shareholders, the business will continue to expand in the future.”